Play It Forward DAO Treasury Report for Q1 of 2022
Throughout Q1 2022, the Play It Forward team worked tirelessly to execute contests and giveaways across its social media platforms. In addition, we continue to work hard on signing up partnerships with up-and-coming blockchain games and are proud to share that we have signed partnerships with over 30 games, protocols, and other ecosystem players.
These important updates and big changes have helped in positioning the DAO’s treasury for the long term. We will continue to deploy our Treasury assets towards strengthening our position in blockchain gaming while continuing the buildout of our ecosystem.
For a more detailed report, here is an update on the status of Play It Forward DAO’s Treasury management and other operations covering the first quarter of 2022. Moving forward, we will provide these updates on a monthly basis to provide our community with real-time updates on our operations.
DAO Players Update
As we move to make blockchain gaming more accessible, we continue to expand and diversify our offerings. We now run 4 sponsorship programs that our players can enjoy and will be bringing on board 2 more this month (MetaGear and Summoners Arena).
The DAO gamers were able to generate ~US$200,000 of earnings throughout Quarter 1 2022 of which ~US$100,000 was paid out to the gamers and the DAO earning ~US$100,000 to further grow our Treasury reserves.
PIF DAO’s Treasury
As of end-March 2022, the total value of the DAO Treasury stood at ~US$6.5 million. This is a combination of ~US$4.2 million of liquid investments and ~US$2.2 million of illiquid holdings (early-stage investments and NFT assets). The treasury amount excludes our 20% Treasury allocation of $PIF tokens that were worth ~US$8.5 million at the end of March 2022. The investments comprise cash reserves, liquid and illiquid token investments, and NFT assets as detailed below:
Our token investments consist of both liquid and illiquid positions in upcoming Blockchain/Metaverse gaming IPs and other essential infrastructure that will underpin the strong growth of the ecosystem (such as GameFi infrastructure, etc). The relatively larger balance locked up in investments will slowly decrease and liquid holdings will increase as more of our early investments mature and vest
The table below indicates the current value of these liquid tokens below:
Non-Fungible Tokens or NFTs come in the form of unique digital land, avatars and other gaming elements that are used within the Metaverse. Our NFT investments were acquired with a view of getting a foothold in the next wave of successful blockchain games.
As we implement our strategy of establishing sub-DAOs across the Philippines, Indonesia, Vietnam and beyond, we will leverage our NFT portfolio to lease to the sub-DAOs and continue to grow their respective communities.
The table below indicates the total value of NFT assets accumulated in our Treasury:
We also maintain healthy reserve balances across large-cap tokens, stablecoins, and fiat holdings. We park our USD reserves across various high yield accounts in CeFi and DeFi to earn risk-free yield for the treasury
We also allocate a portion of our profits from scholarship programs to provide liquidity in the native token of the games we participate in.
As of the end of the first quarter, Play It Forward DAO has a total of 748 community members on its Discord channel. For Twitter, we currently have a total of 28.8k followers. Last March 28, we established our official Facebook page, which currently has 17 followers. Our YouTube channel has 110 subscribers while our LinkedIn profile has 238 followers. Lastly, our TikTok account has 133 followers and our official text channel on Telegram has 14,547 members.
We also competed in a number of Axie competitions, consistently placing in the top levels as we continue to encourage our players to become at the top of their league on the leaderboards. We intend to compete in more competitions moving forward and are in the early stages of partnering with an existing eSports team to continue to grow.
Based on CoinGecko, PIF DAO ended Q1 2022 with a market capitalization of ~US$815,000 — still well below the value of our Treasury assets. As with any dealings in highly volatile investments, please do your own research and this should not be construed as financial advice.
As we go into the second quarter of 2022, it is clear that there’s no stopping the continuous growth of Play It Forward DAO. The Treasury Report will be constructed and published monthly to ensure that holders and users have access to accurate and up-to-date information regarding PIF DAO. Keep up with the Play It Forward DAO’s projects by following and monitoring our community channels!